Fintech Startup BANKIT Starts Its Operations

Inspired by the government of India’s push for financial inclusion and focus on promoting digital transactions with an aim to drive the Entrepreneurial spree in Rural and Semi urban India, Fintech Startup BANKIT has launched its operations in India where through its B2B Channel it will provide banking facility to unbanked people and underbanked people who have limited or no access to the banking facilities and digital payment solutions. Its payment solutions are simple and secure and are delivered via a wide range of devices — desktop systems, laptops, smart-phones or tablets and hence preferred by the Channel partners.

BANKIT provides Banking services like Domestic money transfer to anytime to any bank in just seconds, even on Sundays and holidays and the transactions are safe, simple and secure. BANKIT is a technology company which develops the IMPS switches, Mobile apps and other payment solutions for many leading banks.

BANKIT is promoted by an NRI who believes that each Indian citizen beyond the geographical and literacy boundaries should have access to the financial facilities in the simplest and the safest way nearby their doorsteps and promote the entrepreneurship.

“We want to be the pioneers of formation of a new India where everyone has the access to the banking facilities and don’t have to struggle for the basic banking and financial needs. With the vision to become India’s largest and most trusted payment solutions company, we are working to open more than 10,000 such digital and branded BANKIT stores across the country,” said Director & COO Amit Nigam.

The government’s enthusiastic promotion of cashless technologies – digital wallets, Internet banking, the mobile-driven point of sale (POS) and others – as well as the launch of initiatives including Aadhaar, eKYC, UPI have also facilitated to restructure the financial sector, disrupting the long-held monopoly of traditional institutions like banks.

Furthermore, in recent years, access to the banking system has also improved significantly, thanks largely to the government’s efforts to integrate technologies into the other conservative sector as well as facilitate expansion in unbanked and non-metro regions across the country. BANKIT intends to further extend the reach of banking facilities to all these unbanked and underbanked people across India.

The Fintech start-up has already opened more than 6000 outlets in 22 states and is spreading its wings rapidly across India. It has kept a target to add 1 lakh such outlets in the urban and rural part of the country by 2020 under the expansion plan. It aims to translate the vision of the government of digitizing the rural India and make new Entrepreneurs. This is followed by the BANKIT’s

commitment to transform Indian villages into ‘Digital Villages’ by 2020. This will involve end to end digitization of transactions and other commercial activities, providing basic training to villagers, extending payment and banking facilities and empower each and every individual to transact in a simple, safe and convenient manner.

Also, BANKIT under its CSR initiative named as “UNNATI KA SATHI” intends towards empowerment and upliftment of the society. It aims to bridges the digital divide between rural & urban India. It wants to create more and more entrepreneurship opportunities for underprivileged and socially challenged strata of society by making them self-reliant.